Bank of America to give borrowers up to $10,000 to close a home loan

Source: Ben Lane, HousingWire

Bank of America is committing $5 billion to help boost homeownership for “low- to moderate-income and multicultural homebuyers and communities” across the country.

One of the new options in the Neighborhood Solutions program, set to launch in the second quarter, will see the bank giving “eligible borrowers” as much as $10,000 that can be used toward their down payment or closing costs when they get a Freddie Mac Home Possible mortgage.

Read Full Article: Bank of America to give borrowers up to $10,000 to close a home loan

 

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